Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.4%) and Nasdaq Composite (+0.6%) trade higher, boosted by mega cap shares, and the Dow Jones Industrial Average trade 0.3% lower. 

Apple (AAPL 217.78, -3.13, -1.4%) is an exception after disclosing that it expects to record a one-time income tax charge in its fourth fiscal quarter of up to approximately $10 billion after losing a back-tax ruling in the EU Court of Justice.

The S&P 500 information technology sector trades 0.7% higher despite the downside action in Apple shares. Microsoft (MSFT 415.28, +9.56, +2.3%) and NVIDIA (NVDA 107.27, +0.80, +0.7%) have boosted the sector's performance. Gains in other mega cap names have the consumer discretionary (+1.2%) and communication services (+0.6%) sectors outperforming the index also. 

On the flip side, the energy sector (-1.5%) shows the largest decline amid falling oil prices. WTI crude oil futures trade 1.6% lower at $67.59/bbl.